The marginal cost of labor mcl is defined as the 185

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185) The marginal cost of labor, MCL , is defined as the 185) A) additional fixed cost of producing an additional unit of output. B) additional cost of hiring an additional worker. C) total cost of producing a certain amount of output. D) total cost of hiring an additional worker.
186) Because a monopsony is the only buyer in a particular market, the 186)
187) For a monopsony, the labor supply curve is 187)
188) For a monopsony the labor supply curve 188)
189) Because a monopsony must raise the wage on all labor hired in order to hire more labor, 189) A) the MCL curve is negatively sloped. B) MCL = W . C) the MCL curve is horizontal at the market wage. D) MCL > W .
190) For a monopsony, the marginal cost of labor is ________ the wage rate. 190)
191) A labor market monopsony 191)
192) For a monopsony, the marginal cost of labor curve lies above the labor supply curve because 192)
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193) If a firm faces a labor supply curve that is positively sloped, then the marginal cost of labor curve 193) A) equals the wage rate. B) equals the minimum wage. C) lies above the labor supply curve. D) lies above the value of marginal product curve.

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